After hours outrages prices?

[MistakesWereMade]

I was looking at the nasdaq lvl 2 for pbr and I see set prices at 0.01-9999.
Is there a reason people do this?

 

[Stargunner]

Market makers always have to quote a price. Apparently, it can be ANY price. They have done this in the past when they wanted to step out of the market, but are legally obliged to quote a price.

I did however think the flash crash made this kind of quotation illegal, because algorithms went ballistic trying to trade these prices, bankrupting firms in a few seconds.

 

[drtro]

There's no HFTs providing liquidity after market hours, and most if not all algo traders shut it down as well. It's all basically what Stargunner said.